Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2020 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (2) TMI 1699 - PUNJAB & HARYANA HIGH COURTMaintainability of appeal against ITAT - low tax effect - Addition u/s 2(22)(e) and 14A deleted - AO treated the loan received from Member(s)/Share-holder(s)/Director(s) holding more than 10% of shares therein, as deemed dividends and made additions under the head “income from other sources” and also disallowance u/s 14A - HELD THAT:- From the perusal of the order of the Tribunal, it is not forth coming that any notification, order, instruction or circular was dealt with/ relied upon by the Tribunal what to talk about the same being held illegal or ultra vires. Even otherwise, the Tribunal has no jurisdiction to declare a circular ultra vires. In our considered view, the case does not fall in the exception clause. The appeal is dismissed. The substantial questions claimed are kept open.
|